Aqua America subsidiary to adopt repair tax accounting change in 2012 Aqua America announced that it intends to adopt the repair tax accounting change for its Pennsylvania subsidiary on Aqua America's 2012 federal income tax return to be filed in September 2013. This change, which the company previously announced it was evaluating, allows a tax deduction for investments that were formerly capitalized for tax purposes. The company will use flow-through accounting for the tax benefits of the repair tax accounting change per its previously disclosed Pennsylvania rate order from June 2012. The proposed action is a frequently implemented tax benefit that has been used by numerous companies, including utilities in recent years.
Aqua America names Michael Pickel as Chief Environmental Officer Aqua America announced the promotion of Michael Pickel, P.E. to vice president and chief environmental officer for the company. In this role, Pickel oversees water quality and environmental compliance for all of Aqua’s drinking water and wastewater systems in eight states. Pickel also manages Aqua’s in-house water and wastewater laboratory and the company’s water quality services and water resources engineering departments. Pickel joined Aqua America in 2008 and has served in increasingly responsible roles in environmental compliance management.